Paul Corporation acquired 80 percent of Saul Company on January 1, 2019, by issuing 118,000 shares of $2 par common stock. The market value of the Paul stock on this date was 24 per share Paul paid $44,000 to a third party for help in arranging the business combination and $51,000 to register and issue the shares issued in the aquisition. On the acquisition date , paul would record a debit to Acquisition expense in the amount of:
Paul Corporation acquired 80 percent of Saul Company on January 1, 2019, by issuing 118,000 shares of $2 par common stock. The market value of the Paul stock on this date was 24 per share Paul paid $44,000 to a third party for help in arranging the business combination and $51,000 to register and issue the shares issued in the aquisition. On the acquisition date , paul would record a debit to Acquisition expense in the amount of:
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 25E
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Paul Corporation acquired 80 percent of Saul Company on January 1, 2019, by issuing 118,000 shares of $2 par common stock. The market value of the Paul stock on this date was 24 per share
Paul paid $44,000 to a third party for help in arranging the business combination and $51,000 to register and issue the shares issued in the aquisition. On the acquisition date , paul would record a debit to Acquisition expense in the amount of:
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